Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Specialty Fertilizer Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Crop, Type, Countries, Mode of Application, SWOT, Companies Analysis" report has been added to ResearchAndMarkets.com's offering.
The global specialty fertilizers market is anticipated to experience substantial growth, set to exceed a valuation of US$ 52.74 billion by the year 2030. Driven by the challenge to improve the effectiveness of agricultural products and minimize environmental impacts, the fertilizer industry has been continuously innovating and introducing specialized fertilizer types. These specialty fertilizers are tailored to suit precise soil and plant conditions, ensuring higher efficiency, performance restoration, and cost-effectiveness.
With the burgeoning global population, which is expected to surpass 9.5 billion by 2050, fertilizers become even more critical in supporting food production. Approximately half of the food generated for human and animal consumption worldwide is attributed to the employment of fertilizers. As the demand for food escalates, specialty fertilizers will increasingly become instrumental in boosting crop yields, enabling farmers to meet the escalating food demands effectively.
Global Specialty Fertilizers Market Thrives on Sustainable Agronomy and Advanced Farming Techniques
Emerging trends suggest that specialty fertilizers will be essential in replenishing the soil with key nutrients such as nitrogen, phosphorus, and potassium, which are crucial for robust plant growth. These products enhance crop yields by focusing on specific growth stages and metabolic functions, also offering resistance to various stress conditions in plants.
Experiencing robust growth, the Urea Ammonium Nitrate (UAN) segment is slated to capture a significant share of the global market, due to its facility of flexible application methods suiting a myriad of crops. Furthermore, the Fruits and Vegetables sector within the Specialty Fertilizers Market is witnessing a surge, as the demand for organic and nutrient-rich soil solutions continues to elevate.
Water-soluble fertilizers are becoming increasingly popular among farmers, contributing significantly to the specialty fertilizers market due to their solubility and efficacy in various agricultural applications.
China to Undergo Rapid Expansion in the Specialty Fertilizer Sector Amidst Agricultural Modernization
Geographically, China is projected to experience the swift growth within the global specialty fertilizer market during the forecast period. This growth is indicative of China's commitment to enhancing its agricultural productivity and efficiency through technologically advanced and environmentally-friendly crop management practices.
Leading Industry Players Fostering Growth and Innovation
Several key industry players including CF Industries Holdings Inc, Israel Chemicals, Yara International ASA, and Kingenta Ecological Engineering Group Co. Ltd. are at the forefront of innovation and development within the global Specialty Fertilizer Market.
By Fertilizer Segments
- Urea-Ammonium Nitrate
- Calcium Ammonium Nitrate
- Monoammonium Phosphate
- Potassium Sulfate
- Potassium Nitrate
- Others
By Crop Type
- Fruits and Vegetables
- Commercial Crops
- Others
By Application Type
- Water Soluble Fertilizers
- Micronutrients
- Controlled-release Fertilizers
- Others
By Mode of Application
- Fertigation
- Foliar
- Soil
This comprehensive market analysis provides strategic insights, industry trends, growth drivers, and financial overviews of key players. The multifaceted approach of this analysis offers an extensive view of the Specialty Fertilizers Market dynamics, contributing to a better understanding of industry movements and opportunities for growth.
As the global economy adjusts to the impacts of inflation, the insightful SWOT analysis presented in the report becomes a crucial tool for stakeholders to navigate the changing market landscape. This report also delineates the diverse market outlook across key countries and regions, encompassing North America, Europe, Asia Pacific, South America, and the Middle East & Africa, detailing their contributions to the global specialty fertilizers market expansion.
Companies Mentioned in the Report
- CF Industries Holdings Inc.
- Israel Chemicals
- Yara International ASA
- Kingenta Ecological Engineering Group Co. Ltd.
- Nagarjuna Fertilizers and Chemicals Limited
- The Mosaic Company
- BASF SE
- OCI Global
For more information about this report visit https://www.researchandmarkets.com/r/mj7xjb
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